Joseph E And Caroline B Vella Foundation
- Assets
- $4.5m
- Revenue
- $496.8k
- Investments
- $3.3m
- Employees
- 0
- Location
- Mobile, AL
- Founding
- 10/2015
- Data as of
- 12/2020
- EIN
- 47-4163832
Organization Overview
Joseph E And Caroline B Vella Foundation is located in Mobile, AL. The organization was established in 2015. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Joseph E And Caroline B Vella Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Joseph E And Caroline B Vella Foundation generated $496.8k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $406.3k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Joseph E And Caroline B Vella Foundation has awarded 46 individual grants totaling $272,755. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
J Michael Druhan Jr Trustee | 15 | $88,970 | |
J M Druhan III Asset Manager | 8 | $43,330 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
J Michael Druhan | 12/30/20 | $88,970 |
Duuhan Tyler Llc | 12/30/20 | $106,750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $351,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $145,837 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $496,837 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $132,300 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $27,461 |
| Taxes | $9,170 |
| Depreciation | $0 |
| Occupancy | $32,500 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $28,856 |
| Total operating and administrative expenses | $354,602 |
| Contributions, gifts, grants paid | $51,650 |
| Total expenses and disbursements | $406,252 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $32,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $1,177,858 |
| Other assets | $0 |
| Total assets | $4,547,140 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $971,052 |
| Total liabilities | $971,052 |
Grants Awarded
Over the last fiscal year, Joseph E And Caroline B Vella Foundation has awarded $51,650 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
ST IGNATIUS CATHOLIC CHURCH PURPOSE: SUPPORTCATHOLICPARISH | $26,000 |
ST MICHAEL CATHOLIC CHURCH PURPOSE: SUPPORT OFCATHOLICHIGH SCHOOL | $15,100 |
ST MARY'S HOME PURPOSE: SUPPORTCHILDREN'SHOME | $3,000 |
MOBILE CARNIVAL ASSOCIATION PURPOSE: SUPPORT LOCALMARDI GRASORGANIZATION | $3,000 |
CHRIST THE KING PURPOSE: SUPPORTCATHOLICPARISH | $2,550 |
Mobile, AL PURPOSE: PROMOTELEGALSYSTEM | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trousdale Foundation Inc Cleveland, TN | $157,578,588 | $76,137,385 |
The Murray & Sydell Rosenberg Foundation Inc Atlanta, GA | $5,561,714 | $74,985,544 |
Joseph B Whitehead Foundation Atlanta, GA | $148,285,590 | $58,163,845 |
Emergency Assistance Foundation Inc West Palm Beach, FL | $75,784,415 | $87,494,207 |
Winshape Foundation Inc Atlanta, GA | $1,733,664,901 | $22,099,572 |
A Good Name Foundation Inc Atlanta, GA | $709,299,721 | $33,917,740 |
Jane Woodruff Foundation Inc Atlanta, GA | $0 | $54,999,988 |
Truist Foundation Inc Orlando, FL | $535,253,915 | $119,578,224 |
Ups Foundation Inc Atlanta, GA | $8,317,427 | $54,799,163 |
Leslie L Alexander Foundation Delray Beach, FL | $372,501,228 | $8,282,313 |
Publix Super Markets Charities Inc Lakeland, FL | $259,322,738 | $58,315,085 |
O Wayne Rollins Foundation Atlanta, GA | $468,654,801 | $21,609,282 |